San Diego Pension Taps New CIO After Long Search

A months-long search has ended as the San Diego County Employee Retirement Association (SDCERA) has hired a new chief investment officer, according to a report from Pensions & Investments.

This time around, the CIO is a single person, as opposed to a firm.

In November, SDCERA voted to terminate its-then CIO, Salient Partners. (The firm still has a role in the fund, but this new hire will likely erode Salient’s responsibilities.)

More from Pensions & Investments:

Stephen Sexauer will join San Diego County Employees Retirement Association as chief investment officer on May 29, said Dan Flores, spokesman for [SDCERA].

[…]

SDCERA’s board and David Wescoe, SDCERA’s interim CEO, announced the hiring at Thursday’s board meeting following a closed session, Mr. Flores wrote.

Mr. Sexauer will oversee SDCERA’s investment strategy and day-to-day operation of the investments division. He will also help the board with the pension fund’s investment policies, investment strategy and asset allocation as well as coordinate the transition of Salient’s duties as portfolio strategist.

Mr. Sexauer was chief investment officer of Allianz Global Investors’ multiasset U.S. business until he retired in December and then became an adviser to the company.

Sexauer will manage around $10 billion in assets in his role.